Skip to main content

Sports Betting, iGaming Tech Provider Betegy Closes Investment Round

Betegy
(Image credit: Betegy)

WARSAW, Poland—The venture capital firm Yolo Investments Ltd has made an investment of several million euros in Betegy, which is a supplier of automated marketing technology for the iGaming and sports betting industry.

Betegy’s specialized AI-powered service is a marketing technology provider to the likes of ESPN, Ringier Axel Springer, Bwin, Yahoo Sports, Sportsbet.io, 22bet, Parimatch, PokerGo, ShotTracker and Winners.net (opens in new tab).

"Investing in Betegy made perfect sense because we see an opportunity for significant synergies across the Yolo Investments ecosystem,” Tim Heath, GP at Yolo Investments, said. “This technology is changing the way sports data is visualized by users, and in a market where demand for content has never been stronger, that's extremely powerful. Betegy's products are already being used by some of the biggest names in gaming, including Sportsbet.io, and we'll be working closely with the team to help it on the next step of its journey.”

Yolo Investments was founded by entrepreneur Tim Heath. The Tallinn, Estonia-based firm holds investments in more than 80 companies in the gaming, fintech and emerging technologies industries with total assets under management of 375 million Euros.

The investment gives Yolo a non-controlling stake and will cement a partnership between two players in the iGaming sector that will help expand Betegy’s operations, the companies said.

The latest investment round builds upon Betegy’s extensive partnership with JKR Investment Group, which has extensively supported the company’s growth, providing a foundation for Betegy’s initial expansion into the U.S., the companies reported. 

Commenting on the deal, Alex Kornilov, CEO at Betegy said: “Our system’s innovative approach has enabled us to be the first in the industry to bring the instant creation of data-driven visual content for all communication channels, including social media, TV production, retail, paid acquisition, SEO, sports media and affiliate marketing.”

“We’re very proud to be partnering with one of the iGaming industry’s most innovative and dynamic companies for our next stage of growth, and we can’t wait to get started together!” he added. 

George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.